In Bond Markets, Long Is Going Strong

Issuers Look to Lock in Low Borrowing Costs

Governments and companies around the world are borrowing cash they won't have to repay for at least three decades, seizing upon this year's unexpected fall in interest rates to lock in cheap financing for as long as possible.

Global sales of sovereign and corporate bonds that mature after 30 years have reached $142.5 billion this year as of Tuesday, a 22% rise from the same period last year and a 55% jump from the same period in 2012, according to data provider Dealogic. Their growth far outpaces sales of government and...